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This version of the form is not currently in use and is provided for reference only. Download this version of
Form I-055 Schedule NOL2
for the current year.
Form I-055 Schedule NOL2 Net Operating Loss Deduction and Wisconsin Modified Taxable Income - Wisconsin
What Is Form I-055 Schedule NOL2?
This is a legal form that was released by the Wisconsin Department of Revenue - a government authority operating within Wisconsin. Check the official instructions before completing and submitting the form.
FAQ
Q: What is Form I-055?
A: Form I-055 is a form used to calculate and claim the Net Operating Loss (NOL) Deduction on your tax return.
Q: What is the Net Operating Loss Deduction?
A: The Net Operating Loss Deduction is a tax deduction that allows businesses to offset their losses against their income in order to reduce their tax liability.
Q: What is Wisconsin Modified Taxable Income?
A: Wisconsin Modified Taxable Income (MTI) is the adjusted gross income of a taxpayer for Wisconsin tax purposes.
Q: What is the purpose of Schedule NOL2?
A: Schedule NOL2 is used to calculate the Net Operating Loss Deduction and the Wisconsin Modified Taxable Income.
Q: Who needs to file Form I-055?
A: Individuals or businesses who have a net operating loss and want to claim the deduction on their Wisconsin tax return need to file Form I-055.
Form Details:
- Released on August 1, 2021;
- The latest edition provided by the Wisconsin Department of Revenue;
- Easy to use and ready to print;
- Quick to customize;
- Compatible with most PDF-viewing applications;
- Fill out the form in our online filing application.
Download a fillable version of Form I-055 Schedule NOL2 by clicking the link below or browse more documents and templates provided by the Wisconsin Department of Revenue.
